Westlife Foodworld, the operator of McDonald’s restaurants in west and south India, failed quarterly profit projections on Wednesday, citing sluggish demand. Consolidated profit after tax fell nearly 53 per cent to 172.4 million rupees (USD 2.08 million) in the three months ended 31 December, according to an exchange filing. Analysts, on average, had expected profit […]
Jubilant Foodworks, the operator of the fast-food chains Domino’s Pizza and Dunkin’, on Wednesday, reported a decline of 18.2 per cent in consolidated net profit to Rs 65.70 crore in the third quarter (Q2) ended December 2023 as against the net profit of Rs 80.36 crore in the same period of the previous fiscal, according […]
Domino’s Pizza, which is run in India by Jubilant FoodWorks Ltd (JFL), has joined the Open Network for Digital Commerce (ONDC) network, the food services firm said on Tuesday. Domino’s catalogues will now be visible on numerous applications throughout the network, allowing for smooth purchases, the company said. Customers in the Delhi NCR may already […]
Swiggy, a food and grocery delivery company, reported a 45 per cent increase in operational revenue to Rs 8,265 crore in the fiscal year ending March 2023, while its net loss increased by 15 per cent to Rs 4,179 crore. The Prosus-backed business, which is presently preparing for an initial public offering (IPO), invested extensively during the […]
The operator of QSR Chain Burger King in India, Restaurant Brands Asia, on Monday, the company posted a reduced third-quarter loss, helped by robust holiday sales. The company’s consolidated net loss narrowed to Rs 36.18 crore (USD 4.4 million) in the three months ended 31 December from Rs 50.42 crore a year earlier. Nonetheless, it […]
Zomato has obtained a licence from the Reserve Bank of India (RBI) for its subsidiary, Zomato Payments, allowing the company to function as an online payment aggregator. This milestone positions Zomato alongside industry leaders like Tata Pay and Razorpay, expanding its role in the burgeoning digital payment landscape. Zomato Payments was established to conduct business […]
In a strategic move to cut losses and enhance profitability ahead of its anticipated public listing later this year, Swiggy, the popular food and grocery delivery platform, is reportedly contemplating doubling its platform fee on food orders. The proposed increase would see the platform fee surge from the current Rs 5 to Rs 10 per […]
In an interview with BW Businessworld, Zorawar Kalra of Massive Restaurants speaks about how his father, Jiggs Kalra, inspired him throughout his journey and requests the government to restore input tax credit for GST in the restaurant industry What are your expectations from this budget, considering it’s an interim budget with elections around the corner? […]
Mother Dairy, one of the leading suppliers of milk and milk products on Tuesday said that it will introduce a buffalo milk variety in the Delhi-NCR market, with plans to make this new category a Rs 500 crore brand by March next year, new agency PTI reported. Mother Dairy supplies 35-36 lakh litres of milk […]
Indian television personality and investor Rannvijay Singh recently made a significant financial gain, achieving a 10 times return on his partial exit from his investment in the burger chain, Burger Singh. Rannvijay Singh’s investment in Burger Singh was part of a larger funding round, which was instrumental in the brand’s growth. Speaking about his investment […]
